The Richard and Mica Hadar Foundation Focuses On Student Debt Crisis

NEW YORK, July 11, 2012 /PRNewswire-USNewswire/ -- Richard Hadar, the founder and chair of The Richard and Mica Hadar Foundation, has announced his intention to expand his foundation's charitable efforts to help alleviate the current college tuition cost crisis, which has led college bound students to take on unsustainable debts. In so doing, Mr. Hadar is expressing his support of the current College Affordability Initiative, sponsored by New York State Senator Johnson.

Drawing on over twenty years of experience, Mr. Hadar, himself a successful business entrepreneur in the fields of marketing and real estate, whose holdings in New York City have included the Citicorp Center Building and the LVMH Building at 1 East 57th Street, hopes to encourage other wealthy individuals to form private scholarship programs that can ease the suffocating debt burden currently being placed on those seeking higher education. Mr. Hadar said, "Student debt in this country has reached a level that must now be considered a very serious crisis, one that is unfair to the recently graduated and cancerous to the economy. Government action alone is not the answer. Private individuals and organizations need to do their part as well and we welcome those who want to give back to society by starting their own scholarship programs to contact us for guidance."

The Richard and Mica Hadar Foundation was founded in 1993 and to this day has supported over 250 college students through its unique scholarship and mentoring programs. With a graduation rate of 95%, many of Hadar scholars go on to earn Master's and Doctoral degrees, bearing out Mr. Hadar's conviction that art students have the drive and the dedication to succeed in higher education, given the adequate financial support.